Losses in heavyweights drag STI down

Asian equities were mostly in the red with STI finishing the session down 5.97 points, or 0.19 per cent, at 3,137.43

Published Wed, Mar 15, 2017 · 09:50 PM

IT WAS popcorn Wednesday as investors paused and waited, preferring to watch events unfold from the sidelines ahead of the United States Federal Reserve's interest rate decision to be announced on Thursday (about 2am Singapore time), even though implied probability of a rate hike has hit 100 per cent.

Their inertia held firm - even a rally in US oil prices that erased losses in Wall Street's previous session failed to energise energy equities in Singapore nor in the region.

Asian equities were mostly in the red on Wednesday with the benchmark Straits Times Index (STI) finishing the session down 5.97 points, or 0.19 per cent, at 3,137.43, dragged by losses in heavyweights including Jardine Matheson and related firm Hongkong Land, …

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